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Credit Card Reconciliation

You can keep throwing headcount at credit card reconciliations—but it won't get any better until you put in the right infrastructure.

Save time and frustration. Increase deposit control. Reduce fraud—use Credit Card Reconciliation edition.

The problem
Data that you can't match on.

Credit Card Reconciliation Attributes

In an ideal world, you would match on the following four attributes:
· 1. Amount
· 2. Site number
· 3. Card type (Visa/MC, AMEX, Discover)
· 4. Date Range

but the only attribute you currently have to match on is the amount.

Our goal is to avoid 'false positives' and to match on all four attributes.

The Solution
Use our Credit Card Reconciliation edition and get all four attributes to match.

Converts the merchant number to site number and card type
a. Our software obtains the merchant number from the embedded text field in the bank statement for each transaction.

b. Using a lookup table, the system converts the Merchant Number to Site number. The system also logs the card type (Visa/MC, AMEX).
Credit Card Reconciliation Lookup Table

Should already be at gross. If you are not getting paid at gross (net of discount) - we'll get you at gross.

Date Range
The transaction date and the payment date should never be the same. Each card processor and card type has a different payment schedule.

Our goal is always to avoid false matches. We do not want a transaction originating on the 1st of the month (G/L) for $100, to be matched with a $100 payment (Bank) on the 30th.

To avoid cross matches by date - and preserve the audit trail, we use the date range as our fourth attribute.

If it takes 2 days to get paid for Visa/MC, but 5 days for American Express, we might setup the date ranges - with some cushion - to look like:

Need to match detailed internal data to summarized bank payments?
We can provide custom scripts to summarize your internal data and match to the bank.

Need a three way credit card reconciliation - processor netting chargebacks out of deposits?
If so, we can show you how to import the fees, chargebacks and other adjustments from your processor to arrive at the net deposit at the bank.

Next step: >> Request an online demonstration
We realize that all of your credit card reconciliation questions may not be answered by the above screen shots.

Please call us at 866 226-5732 and request an on-line demo.

About Treasury Software
Treasury Software is the leading provider of cash management and electronic payment solutions for businesses. Since our inception in 1999, we have maintained an ongoing commitment to provide secure, intuitive, cost effective solutions that are easy to install and easy to use. Because our development team includes experienced Certified Public Accountants, we understand the unique issues and challenges associated with the treasury management environment.

Microsoft Gold Partner
As part of our Microsoft Gold Certification, our software has been independently tested by Veritest/LionBridge.
Certification incorporates: customer satisfaction surveys, client references, software certification and employee certification and training.

In addition, our commitment to quality and customer support has earned us numerous awards and recognitions including The CPA Software News' Gold Cup Award for product excellence.

Can't find what you need? Contact us online or at 866-226-5732
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